The Civil Engineering & Development Department signed a $12.076 billion contract on January 10 for reclamation works in Tung Chung East and advance works for the Tung Chung New Town Extension project. A major initiative of the Government to increase land supply in the medium to long-term, the new town extension project will provide 49,000 residential flats and 870,000 sq m of commercial floor space. It will accommodate a population of 140,000 and create 40,000 job opportunities. The reclamation, the main part of the extension project, will provide 40,000 new flats for housing and economic development. Works began on December 29 and will provide land in phases with a view to having the first population intake in 2023. The contract was signed with Build King-SCT Joint Venture. <Click> here for details.